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FINCURA: Digitization of Manual Portfolio Management

CIO VendorMax Blumenthal, Founder & CEO
Having served as a commercial lender at Silicon Valley Bank, Max Blumenthal, Founder and CEO of FINCURA brings the depth of experience and knowledge to tackle the most painful function of the commercial lending industry: manual data processing. The legacy practice leaves lending professionals with limited information to derive actionable insights, as they squander a significant part of their time organizing borrowers’ loan portfolio data. Confronted with such a challenge, the founder laid the groundwork to build software that could digitize and automate the manual data processes, allowing data analytics teams to access six times more data at greater than 99 percent accuracy in a fraction of the time. “By digitizing manual processes, FINCURA improves the quality and depth of relevant financial data, while giving lending teams more time to originate new loans and analyze borrower risk,” expresses Blumenthal.

With varying financial statement formats from different corporate borrowers, banks often face the challenge of tweaking and refining the data in a manner that their teams can analyze. FINCURA normalizes financial data from any format supplied by the borrower into any format that the bank prefers. The normalization can be defined by bank, by industry, or even by borrower. FINCURA’s platform also tracks borrower compliance in ways that were previously not possible allowing banks to better predict risk and credit defaults. The solution can also generate alerts to notify the bank of future compliance risk through their advanced analytics algorithms.

By digitizing manual processes, FINCURA improves the quality and depth of relevant financial data, while giving lending teams more time to originate new loans and analyze borrower risk

FINCURA complies with the relevant federal regulatory requirements, eliminating the need to allocate resources to focus specifically on compliance issues. Governed by the belief that proactive security measures are fundamental to improved outcomes, the firm continues to proactively evolve and update their security practices.

Also, the firm has made integration with existing systems at the bank simple and fast. “The system integration process takes anywhere between one or two weeks, and the testing period can be as short as one month. Most importantly, the solution is implemented without replacing existing systems of record,” informs Blumenthal.

Blumenthal credits the success of FINCURA to their data science team that builds machine learning algorithms to parse information out of financial documents accurately. He also praises the product team for making “one of the most beautiful and intuitive banking platforms ever built.” With exemplary track records, team members at FINCURA possess rich experience in areas with complex challenges, including missile defense radars, detecting high-frequency trading for stock exchanges, and creating secure data rooms for sensitive M&A transactions.

A TechStars Boston company, FINCURA envisions an impressive roadmap to help banks for decades to come. Driven by the passion for eliminating inefficiencies in middle-market lending, the firm empowers its clients to realize ROI by helping them to work smarter and faster. FINCURA is also a part of Village Capital’s venture development program sponsored by PayPal and BNY Mellon.